Applicable Rating Agency definition

Applicable Rating Agency means any Rating Agency that (a) published a rating for the Company on the date hereof and publishes a rating for the Company at such time as a Rating Agency Event occurs, or (b) any successor to a Rating Agency described in the preceding clause (a).

Applicable Rating Agency means any Rating Agency that (i)(a) published a rating for the Company on the Original Issue Date and (b) publishes a rating for the Company at such time as a Rating Agency Event occurs, or (ii) any successor to a Rating Agency described in the preceding clause (i).

Applicable Rating Agency means (i) A.M. Best Company, Inc. and/or (ii) any rating agency agreed from time-to-time by mutual written consent of the Company and the Retrocessionaire.

Examples of Applicable Rating Agency in a sentence

• No adjustment in the Note Interest Rate shall be made solely as a result of an Applicable Rating Agency ceasing to provide a rating.

• The Note Interest Rate will permanently cease to be subject to any adjustment described above (notwithstanding any subsequent decrease in the ratings by any Applicable Rating Agency) if the Notes become rated “A3” (or its equivalent) or higher by Moody’s (or any Substitute Rating Agency) and “A-” (or its equivalent) or higher by S&P (or any Substitute Rating Agency), or one of those ratings if only rated by one Applicable Rating Agency, in each case with a stable or positive outlook.

• For so long as (i) only one Applicable Rating Agency provides a rating of the Notes, any increase or decrease in the Note Interest Rate necessitated by a reduction or increase in the rating by that Applicable Rating Agency shall be twice the applicable percentage set forth in the table above and (ii) no Applicable Rating Agency provides a rating of the Notes, the Note Interest Rate will increase to, or remain at, as the case may be, 5.600%.

• The Note Interest Rate will permanently cease to be subject to any adjustment described above (notwithstanding any subsequent decrease in the ratings by any Applicable Rating Agency) if the Notes become rated “A3” (or its equivalent) or higher by Xxxxx’x (or any Substitute Rating Agency) and “A-” (or its equivalent) or higher by S&P (or any Substitute Rating Agency), or one of those ratings if only rated by one Applicable Rating Agency, in each case with a stable or positive outlook.

• For so long as (i) only one Applicable Rating Agency provides a rating of the Notes, any increase or decrease in the Note Interest Rate necessitated by a reduction or increase in the rating by that Applicable Rating Agency shall be twice the applicable percentage set forth in the table above and (ii) no Applicable Rating Agency provides a rating of the Notes, the Note Interest Rate will increase to, or remain at, as the case may be, 3.350%.

More Definitions of Applicable Rating Agency

Applicable Rating Agency means, with respect to any Liquidity Reserve Letter of Credit, (i) Fitch, for so long as Fitch is a Rating Agency with respect to any outstanding Notes and (ii) any Rating Agency then rating the Series of Variable Funding Notes with respect to which such Liquidity Reserve Letter of Credit was issued.

Applicable Rating Agency means a Rating Agency that assigned a Rating as of March 22, 2020.

Applicable Rating Agency means one of the following Rating Agencies at any given time: (i) in the case that there is only one Rating Agency rating the Notes, such Rating Agency, (ii) in the case that there are two Rating Agencies rating the Notes, such Rating Agency providing the lower rating, or (iii) in the case that there are three or more Rating Agencies rating the Notes, such Rating Agency providing the second lowest rating. The initial Rating Agency shall be Egan Jones.

Applicable Rating Agency means (a) in the case of the Class A Pass Through Trust, Fitch, Xxxxx’x and Standard & Poor’s and (b) in the case of the Class B Pass Through Trust and the Class C Pass Through Trust, Xxxxx’x and Standard & Poor’s.

Applicable Rating Agency means any Rating Agency that (i) (a) published a rating for the Series M Preference Share Issuer on the date of original issuance of the Trust Preference Securities and (b) publishes a rating for the Series M Preference Share Issuer at such time as a Rating Agency Event occurs, or (ii) any successor to a Rating Agency described in the preceding clause (i).​

Applicable Rating Agency means the Rating Agency that has assigned the Senior Notes a Credit Rating.

Applicable Rating Agency means one of the following Rating Agencies at any given time: (i) in the case that there is only one Rating Agency rating the Notes, such Rating Agency, (ii) in the case that there are two Rating Agencies rating the Notes, such Rating Agency providing the lower rating, or (iii) in the case that there are three or more Rating Agencies rating the Notes, such Rating Agency providing the second lowest rating. The initial Rating Agency shall be Xxxx Xxxxx.